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Dec 24, 2012
12/12
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of hurricane sandy, plus the dampened mood cast over the country by the recent school shootings in connecticut. >> what's on today's agenda for you to follow in the united states? there's no economic earnings starting to speak of on this christmas eve. the markets will be closing early with the nyse closing at 1:00 p.m. even, the cme at 1:15, nymex at 1:30 and the cme global index closes at 1:45 eastern so basically they can go shopping. now, u.s. markets were higher last week despite friday's lack of a deal on the fiscal cliff. the nax das was up by 1.7% and the s&p 500 by 1.2%. that may have been the santa claus rally. we're joined now by ben lichtenste lichtenstein. ben, if we look at futures this morning, looking negative. it doesn't look as though santa is going to visit on christmas eve. >> well, we have seen a significant santa rally. if you look at the lower levels we were trading at earlier. if you remember, we sold off with conviction to the downside in the s&p as we tested that 1340 level. recently, a strong rally off that level. but, really, unable to get anything convincing to the
of hurricane sandy, plus the dampened mood cast over the country by the recent school shootings in connecticut. >> what's on today's agenda for you to follow in the united states? there's no economic earnings starting to speak of on this christmas eve. the markets will be closing early with the nyse closing at 1:00 p.m. even, the cme at 1:15, nymex at 1:30 and the cme global index closes at 1:45 eastern so basically they can go shopping. now, u.s. markets were higher last week despite...
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Jan 3, 2013
01/13
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thought we were getting rid of that word, as well as the after of courses of the school shooting in connecticut. stacey is joining us. steven england st still with us, as well. good to see you, stacey. >> happy new year. >> would you concur with that analysis or not? >> we've heard the mastercard numbers out and they were up less than 1%. it looks likes it's going to be the toughest holiday season since 2008. i was in stores before christmas, and things were quiet, whether it was tiffany or saks. so i think expectations have come counsel significantly and you'll see some disappointing numbers. >> yeah. has much of this gone to online? >> sure. originally when we saw the traffic down in stores in the weeks going up into christmas, the blame game was wab it's just online. it's eating up a bigger share. but so far, the numbers we've seen are between 8% and 15% increase for online sales. that is not enough to make up for the traffic foot fall that we've seen in stores. >> what's interesting here in the uk when you talk about online, the two that we've heard from, john lewis and next are two stores
thought we were getting rid of that word, as well as the after of courses of the school shooting in connecticut. stacey is joining us. steven england st still with us, as well. good to see you, stacey. >> happy new year. >> would you concur with that analysis or not? >> we've heard the mastercard numbers out and they were up less than 1%. it looks likes it's going to be the toughest holiday season since 2008. i was in stores before christmas, and things were quiet, whether it...
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Dec 24, 2012
12/12
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fiscal cliff, hurricane sandy of course, that tragedy in newtown, connecticut, and, of course, all of this is weighing on this a little bit more than those slightly more intangible factors of home prices being on the upside. so i saw a lot of sales. i was out all day saturday and sunday in philadelphia, walnut street. i saw sales in ann taylor, express. most of the boutique stores that were out there, at least portions of the store were on sale. so to me that at least indicates the margins are going to be under a little bit of pressure certainly by the end of the year. >> we'll see what the new quarter brings. we'll see you in a few minutes. that was fantastic. >> got to keep up the traditions down there. >> absolutely. meanwhile, facebook shares on our radar. a tax story, bullish, endless note. >> hi, carl. according to the sunday times facebook reportedly funneled 440 million pounds or approximately 712 million dollars into a tax haven last year to avoid taxes in britain. now a facebook spokesperson in response says that facebook complies with all relevant corporate regulations incl
fiscal cliff, hurricane sandy of course, that tragedy in newtown, connecticut, and, of course, all of this is weighing on this a little bit more than those slightly more intangible factors of home prices being on the upside. so i saw a lot of sales. i was out all day saturday and sunday in philadelphia, walnut street. i saw sales in ann taylor, express. most of the boutique stores that were out there, at least portions of the store were on sale. so to me that at least indicates the margins are...
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Feb 28, 2013
02/13
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take me to the local stop and shop in connecticut. the company has decided to buy back 500 million worth of shares and raise its dividends 44 cents a share. >> which is interesting because we know grocery chains have not been the friendliest environment for them. we'll have more on this later on in the program. >> and we spoke to a ceo a little earlier in what prompted these moves. >> clearly on our free cash flow, we delivered record high 1.2 billion over last year. so that is why we were looking at share buyback to our performance of the last year and our performance cea divestments. does it work? i think it's working. it certainly improves the extra share. so both sides, of course, we do the right things. >> carolin did ask him about buying harris teeter. he wouldn't comment but said they were looking at way toes deploy cash. we'll take a look at these numbers later on in the program at about 11:10 central european time. ross. >> thanks very much indeed for that, kelly. right. here we are. six to three advancers outpacing decliners
take me to the local stop and shop in connecticut. the company has decided to buy back 500 million worth of shares and raise its dividends 44 cents a share. >> which is interesting because we know grocery chains have not been the friendliest environment for them. we'll have more on this later on in the program. >> and we spoke to a ceo a little earlier in what prompted these moves. >> clearly on our free cash flow, we delivered record high 1.2 billion over last year. so that...
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Jul 31, 2012
07/12
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what it often does is to inflate the wrong prices, make greenwich, connecticut, even richer, and set us back in the progress of adjusting from the last bout of bad monetary policy. >> but that office, it seems like you're way too narrow in your scope. >> you have to start somewhere. >> i know but it wouldn't just be for the fed. couldn't you open up a government office of unintended -- couldn't we get rid of -- >> you're building an empire. that's what's wrong with washington, d.c. >> what are the three rick perry wanted to close? education, epa -- how about we close three and open the office of unintended consequences. >> okay, done. it's decided. >> it's certainly not confined to the fed. >> it's straight department of unintended consequences. >> which will cover all of government. we will have much more to come from jim grant. you've never designed a bridge. please don't -- >> no. i have bought one. >> he could do it. i would, too. >>> still to come, day one of the fed meeting with the fiscal cliff looming we'll talk about the issues facing the markets. >>> up next he advanced ind
what it often does is to inflate the wrong prices, make greenwich, connecticut, even richer, and set us back in the progress of adjusting from the last bout of bad monetary policy. >> but that office, it seems like you're way too narrow in your scope. >> you have to start somewhere. >> i know but it wouldn't just be for the fed. couldn't you open up a government office of unintended -- couldn't we get rid of -- >> you're building an empire. that's what's wrong with...
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Dec 17, 2012
12/12
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. >>> president obama says he brought the prayers of the nation to the pete of newtown, connecticut, a town shattered by friday's shooting and elementary school. 26 people were killed, including 20 children, before the gunman killed himself. speaking at the service, the president noted this was the fourth time he's had to console a community during his time in office. and he demanded changes in the way the u.s. deals with gun violence. >> we will be told that the causes of such violence are complex. and that is true. no single law, no set of laws can eliminate evil from the world or prevent every senseless act of violence in our society. but that can't be an excuse for ip action. surely we can do better than this. >> the president says he will meet with a group of law enforcement parents and teachers in an effort to prevent future tragedies. several democratic lawmakers are now calling for a new push on tougher u.s. gun laws, including a ban on military-style assault weapons. >>> we'll take a short break. still to come, why china's new leaders see a future where economic growth isn't
. >>> president obama says he brought the prayers of the nation to the pete of newtown, connecticut, a town shattered by friday's shooting and elementary school. 26 people were killed, including 20 children, before the gunman killed himself. speaking at the service, the president noted this was the fourth time he's had to console a community during his time in office. and he demanded changes in the way the u.s. deals with gun violence. >> we will be told that the causes of such...
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Dec 24, 2012
12/12
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you think you had the long calendar, the hurricane sandy, the track dpi in connecticut, people had a lot on their minds this season. this weekend was a key weekend. i think it helped. i didn't see promotions being extra promotional. but it's a push till the end. >> okay, so winners and losers? >> i think some of the winners, i think you're going to see companies like tjx, macy's. i think american eagle outfitters, even gap had a very good season, along with michael kors. >> losers? >> i think you had a tough time at jcpenney. i think the traffic was tough there all the time. i think kohl's had to be extra promotional in order to be able to drive the sales. and the whole children's sector was very promotional. from gymboree to children's place. >> so, dana, jason trennert from strat eegous. how are you doing? >> good, how are you, jason? >> good. normally retail stocks outperform in january, because i think that phenomenon that andrew was talking about is that there's a general sense that christmas gifts canceled at a certain point and then it comes back at the end and then you wind u
you think you had the long calendar, the hurricane sandy, the track dpi in connecticut, people had a lot on their minds this season. this weekend was a key weekend. i think it helped. i didn't see promotions being extra promotional. but it's a push till the end. >> okay, so winners and losers? >> i think some of the winners, i think you're going to see companies like tjx, macy's. i think american eagle outfitters, even gap had a very good season, along with michael kors. >>...
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Dec 17, 2012
12/12
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we'll be following the tragic shooting in connecticut, of course. the new york stock exchange will hold a moment of silence to honor the victims in the next few moments, and we'll be looking at the president's call for meaningful action and the politics of gun control. >> let's get to a road map for this morning. it starts with apple. under pressure once again. even dipping below $500 a share at some point this morning. shares will remain range bound near term. iphone 5 sales and cannibalization among the region. >> other concessions from the gop, the speaker proposing tax hikes for millionaires. could this be the tipping point. moving the talks beyond deadlock. >> a big week for earnings. yes, earnings. fedex, research in motion among the companies reporting. so finally maybe we'll be talking about fundamentals in the stock market more than just the cliff. we've got to talk about apple reversing its move lower this morning, sold more than 2 million iphone 5s in china. the best debut for any iphone in the china market. apple shares are higher as we
we'll be following the tragic shooting in connecticut, of course. the new york stock exchange will hold a moment of silence to honor the victims in the next few moments, and we'll be looking at the president's call for meaningful action and the politics of gun control. >> let's get to a road map for this morning. it starts with apple. under pressure once again. even dipping below $500 a share at some point this morning. shares will remain range bound near term. iphone 5 sales and...
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Sep 10, 2012
09/12
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but what got them in trouble, andrew, and that was all the insurance that connecticut unit was writing without putting down any reserves. did they not have to pay off on those? did they unwind the credit default swaps or -- >> i don't think many of them ended up having get paid. some, but very little. >> so that was what was going to sink them. so if those didn't get paid off, then the rest of the company was still pretty -- it was that unit that was causing all the problems, wasn't it? >> there was that. a lot of -- aig, there was a lot of problems across the board. nobody ever imagined that they would actually make money. >> $182 billion, like we were all in. >> so my question is if you're an occupy wall streeter, does your view on aig change? >> i don't know. i saw something over the weekend, though, about jay-z. >> it was in the "new york times." he says, look, i didn't want to support occupy wall street, i didn't know what they represented. pretty fascinating stuff. >> jay-z is a 1%er, isn't he? >> yep. and he also said he's a fan of free markets, a fan of entrepreneurship. i thou
but what got them in trouble, andrew, and that was all the insurance that connecticut unit was writing without putting down any reserves. did they not have to pay off on those? did they unwind the credit default swaps or -- >> i don't think many of them ended up having get paid. some, but very little. >> so that was what was going to sink them. so if those didn't get paid off, then the rest of the company was still pretty -- it was that unit that was causing all the problems, wasn't...
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Mar 20, 2012
03/12
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with the main proposal that seems to be to increase the tax that 1,000 or 2,000 hedge fund managers in connecticut pay on their capital gains at the moment. there is also a distortion -- >> that's absolutely -- [ everyone talking at once ] >> no, you're just not correctly describing our plan. the president calls for a balanced package, which does call for significant revenues on those who are most well off as part of a plan of overall shared sacrifice. i do not believe that you have to radically overhaul medicare and social security. you do need to make significant changes. this president has done that. he's extended the life of the medicare trust fund by eight years and is proposing to do more, and we agree that you need to have a grand bargain, a grand compromise. but i'll tell you where you're just fundamentally not correct right now. the huge part of our deficit problem right now is the fact that in the last decade, we gave significant tax cuts and never paid for them. had we not done that, had we not created that revenue problem through having two rounds of bush tax cuts that were not paid fo
with the main proposal that seems to be to increase the tax that 1,000 or 2,000 hedge fund managers in connecticut pay on their capital gains at the moment. there is also a distortion -- >> that's absolutely -- [ everyone talking at once ] >> no, you're just not correctly describing our plan. the president calls for a balanced package, which does call for significant revenues on those who are most well off as part of a plan of overall shared sacrifice. i do not believe that you have...